Is getting worldcoin a tradeoff with your privacy?

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Is worldcoin a free crypto opportunity for you?

Free is always good and when it comes to free crypto it s even better because crypto which is tradable is equivalent to free money right?
Well, not always as most of the time there is a tradeoff.
Let us explore the worldcoin in this light.

A Look at worldcoin

The worldcoin or WLD as the symbol goes is a new crypto that got launched a few days ago.
It is the brainchild of Sam Altman. If that name Sam Altman rings the bell then the reason for that is that he is the guy behind OpenAI

The idea of just being unique

Each indivdual is uiques in terms of genetic makeup and biometrics.
Sam Altman the guyOpenAI CEO has the unique idea of distributing crypto to people just for being unique.

The identifier of uniqueness that the worldcoin platform has chosen is the iris of an individual.

How the Worldcoin project works

The worldcoin project is in search of unique individuals identified by their iris. It may be noted that each individual has a unique iris much like a unique DNA or a finger print.
The worldcoin team collects biometric data of individuals and uses the information to create a unique passport for the individual.
In return for taking this biometric information it rewards the user with WLD coins.

The project is working towards establishing a universal basic income plus it aims to determine a mechanism that can be used to differentiate between humans and robots.

With this intent individuals associated with the project can be seen holding iris scanners that are round orbs.

Getting iris scan is a voluntary process.

The process of getting ones iris scan is a voluntary process. In return for getting an IRIS scan a user gets the native token of the worldcoin project as incentive.

The native coin of the worldcoin is WLD that is being offered as incentive.

Takin a deeper look into the worlcoin

As per the co founders of the project Alex Blania and Sam Altman the project differs from other crypto projects. The worldcoin is designed to act as a universal basic income project.
With this project the founders wish to help the users get a fair access to the world economy and its opportunities.

How one gets the worldcoin

The best and the easist way to get hold of some free worldcoins dropped into your crypto wallet is by way of having your irises scanned.
The device to scan the iris is called an orb and is operated by one of the members assigned by the project team.
Getting these scans done would help store the iris scan as irishash.
As per the project team the irishash is the only data that the projects stores.

It is claimed that no other biometric data is saved.
The image captures at the time of sign up are deleted.

Getting the irises scanned gives the user the opportunity to reserve and preserve his unique IrisHash and in addition they get their crypto wallet.
This also doubles up as a "World ID" or a digital passport for the user.

Worldcoin has the backing of investors

Some of the biggest venture capital firms have shown their support and financial commitment to the project.

From the users point of view the project has got good support and has seen a lot interest in the category of people who want to claim free crypto in exchange of getting their eyes scanned.

Users are eyeing up the project

The worldcoin project is still in the beta phase and as for the numbers it shows one finds that it has gined over 2 million users.
With the launch event the worldcoin project intends to expand its orbing operations to 20 countries and 35 cities.

The worldcoin project is already being tested in countries like Chile, Indonesia and Sudan.
With its WorldApp it would be available to people in 80 countries.

Would the project be able to negate the sybil attack?

A sybil attack is when a hackers uses the practice of creating multiple identities in order to take over an online network.
With worldcoin wach wallet would be associated with one irishash or one irisscan therefore it may be a way to go ahead.

However there are instances of people in china trying to buy iris scans in order to get hold of the WLD coins.

Now sure how this could be done because if you check the worldcoin site
They ask you to download an app

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The app is not a self service scanning app instead it helps you locate the scanning orb closest to you.
So not sure how people plan to exploit this system?

Is the worldcoin project a set of all positives?

Currently the WLD coin token is getting a lot of attention

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This project has created a lot of interest for sure and at the same time started hot debates about the user privacy.
In the world of Web 2.0 companies and platforms monopolizing and selling users data is nothing new.

Though it is a bad practice but not the right one.
In this light some see this project as trading your biometric information for crypto.

In the end, it is the people that would decide how the project grows and evolves going forward.

Posted Using LeoFinance Alpha